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This analysis uses Suburbs and Localities (SAL) boundaries, which can materially differ from Statistical Areas (SA2) even when sharing the same name.
SAL boundaries are defined by Australia Post and the Australian Bureau of Statistics to represent commonly-known suburb names used in postal addresses.
Statistical Areas (SA2) are designed for census data collection and may combine multiple suburbs or use different geographic boundaries. For comprehensive analysis, consider reviewing both boundary types if available.
est. as @ -- *
2021 Census | -- people
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Banks has an estimated 5,043 residents, down from 5,100 at the 2021 Census — a change of 57 people, or 1.1%. That puts 2,241 residents on each square kilometre. Population is estimated from ABS Estimated Resident Population releases and GNAF address data, re-based from the 2021 Census and updated annually.
Detail
Based on examination of ABS demographic revisions for the broader district, alongside new addresses validated by AreaSearch since the Census, the suburb of Banks is estimated to have a population of approximately 5,043 as of May 2026. This represents a contraction of 57 people (1.1%) from the 2021 Census, which documented a population of 5,100 individuals. The variation is derived from the resident population of 5,038, calculated by AreaSearch through analyzing the latest ABS ERP release (June 2025) and adding 3 validated new addresses since the Census date. This population size corresponds to a density ratio of 2,241 persons per square kilometer, exceeding the average across national locations analyzed by AreaSearch.
Although the suburb of Banks recorded a 1.1% decline since the census, the SA3 region expanded by 1.4%, highlighting contrasting population trajectories. Population gains in the area were chiefly supported by natural growth, which accounted for approximately 82.0% of the total population growth in recent periods. AreaSearch utilizes ABS and Geoscience Australia projections for each SA2 region, which were published in 2024 using 2022 as the baseline. For any SA2 regions lacking this data, and for any years after 2032, age group growth rates are sourced from ACT Government projections, also utilizing a 2022 baseline. Factoring in these expected demographic transitions, projections show a drop in the overall population over this timeframe, with the suburb of Banks expected to lose 253 persons by 2041 under this approach. Conversely, expansion is projected in certain age groups, led by residents aged 75 to 84, who are expected to increase by 59 people. Detailed age breakdowns are available in the corresponding section.
Frequently Asked Questions - Population
Detail
According to AreaSearch's evaluation of ABS building permits allocated from statistical area data, Banks averages approximately 1 dwelling receiving development approval each year, culminating in an estimated 6 homes over the last 5 financial years. Thus far in FY-26, 1 approvals have been documented. Since an average of 3.5 people per year relocated to the area for every home constructed over the last 5 financial years (spanning FY-21 to FY-25), demand is outstripping supply by a wide margin. This imbalance typically exerts upward pressure on housing prices and heightens buyer competition, while new homes are built at an average value of $900,000, indicating developers are targeting the premium segment with high-end projects.
Compared against the broader Australian Capital Territory, Banks exhibits significantly lower development activity, registering 90.0% below the regional per capita average. This undersupply of new housing generally bolsters demand and values for existing residences. This rate also sits below the national average, reflecting a mature locality and suggesting potential planning limitations. Furthermore, all recent construction has consisted of detached houses, preserving the traditional suburban layout with a focus on spacious family residences. New building activity shows a higher proportion of detached housing than existing stock indicates (79.0% at the Census), demonstrating a sustained, strong appetite for family homes. With approximately 5022 people per approval, Banks presents as a mature, established residential market. As the population is projected to remain stable or decline, Banks is likely to see reduced pressure on housing stock, which may open up opportunities for purchasers.
Frequently Asked Questions - Development
Development applications around Banks
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| Lodged | Address | Description | Type | Distance | Status |
|---|
SOURCE: Planning portals and council registers, compiled by AreaSearch. Distance & bearing measured from the suburb midpoint.
AreaSearch tracks 18 current infrastructure and development projects close to Banks, worth an estimated $2.56 billion. 2 are already under construction and 4 are due for completion within three years. The pipeline spans residential development, communities, precincts & urban renewal and health & medical. Records are compiled from Infrastructure Australia, state agencies, council planning portals and public announcements, reviewed and updated daily, then ranked by proximity, construction stage, completion horizon and project scale.
Detail
Nothing affects local performance as much as alterations to nearby infrastructure, major developments, and urban planning initiatives. In total, no projects have been identified by AreaSearch as likely to influence the area. Key initiatives include Southquay Greenway Stage 2 - Block 1 Section 80 Public Housing, Lanyon Marketplace Improvements, Monaro Highway Safety Upgrades, and Big Canberra Battery (Williamsdale BESS), with the list below highlighting those expected to be of greatest significance.
Professional plan users can use the search below to filter and access additional projects.
INFRASTRUCTURE SEARCH
Denotes AI-based impression for illustrative purposes only, not to be taken as definitive under any circumstances. Please follow links and conduct other investigations from the project's source for actual imagery. Developers and project owners wishing us to use original imagery please Contact Us and we will do so.
Frequently Asked Questions - Infrastructure
Banks Gateway Estate
New residential subdivision by the Suburban Land Agency delivering approximately 220 new homes in Banks, directly adjacent to northern Gordon and within the same primary school catchment. The project is focused on creating a thriving local community.
Tuggeranong Multi-Unit Development - Gordon
Multiple 24-unit developments and supportive housing projects including six single storey supportive housing dwellings with carports, and childcare centre construction for 90 places.
Lanyon Marketplace Improvements
Public space improvements completed in late 2023 at Lanyon Marketplace in Conder. The project, led by the ACT Government, included new seating and landscaping, improved pedestrian access (paths, pram ramps, safe crossings), a new raised intersection at Balcombe and Sidney Nolan Streets, and additional parking spaces on Sidney Nolan Street. The original record's mention of new Coles/Aldi/specialty stores appears to refer to an expected private sector expansion/refurbishment or is based on speculation, as the public works completed focused on the community space and access, with the Marketplace being anchored by Woolworths and 18 specialty shops.There is an ALDI store located at 9 Sidney Nolan Street nearby.
Calwell Retirement Living Precinct
A retirement living precinct proposal by KBDC, featuring 30 one-storey townhouses alongside the Calwell shopping strip.
Calwell Group Centre improvements
Public space upgrades at local shops including new seating, playground with nature play elements, accessible parking bays, improved pedestrian access, upgraded lighting, and enhanced landscaping. Features nest swing, trampolines, slide, steppers and new shade sail.
Calwell Public Housing Development
30 new public housing townhouses (2 and 3 bedroom) built to Class C Adaptable standards. Features evaporative heating/cooling, 6-star energy rating hot water systems, double-glazed windows, and sustainable design.
EV Fast Charging Infrastructure - Calwell (Calwell Shopping Centre)
Public DC fast EV charging delivered at Calwell Shopping Centre and operated by Evie Networks, supported by ACT Government grants and ARENA funding to expand Canberra's charging network.
Tuggeranong Public Housing Development
Major public housing development in Tuggeranong providing affordable housing options for low-income families and individuals. Includes multiple apartment complexes and townhouses with community facilities and support services.
3,020 residents of Banks are employed, from a labour force of 3,166. Unemployment sits at 4.6%, with participation at 78.7%. Weighted for its industry mix, the area's sectors are forecast to grow about 6.1% nationally over five years. That reflects industry composition only and makes no allowance for local population growth. The working-day population is estimated at 3,544, about 70% of the resident population, so more people leave the area for work than travel in. Unemployment and labour force come from ABS Small Area Labour Markets, updated quarterly; the industry and occupation profile is from the 2021 Census.
Detail
Banks has a skilled workforce with a strong presence in essential service industries, an unemployment rate of 4.6%, and relatively stable employment conditions over the preceding year, according to AreaSearch's compilation of statistical area data. As of March 2026, 3,020 residents are employed. The local unemployment rate is 0.6% higher than the Australian Capital Territory average of 4.1%, while workforce participation is significantly elevated, standing at 78.7% compared to the Australian Capital Territory level of 70.8%. According to Census records, a low proportion of 8.0% of workers operated from home, though the influence of Covid-19 lockdowns should be taken into account.
The primary sectors employing local residents are public administration & safety, health care & social assistance, and construction. The community displays a particularly strong concentration in construction, with employment rates at 1.5 times the regional average. Conversely, professional & technical services have a minor footprint, employing 6.4% of workers compared to 11.1% across the region. This highly residential locality appears to provide sparse local employment opportunities, as shown by comparing the count of the Census working population against the resident population. Based on AreaSearch's evaluation of SALM and ABS statistics aggregated from broader statistical regions, over the 12-month period ending March 2026, employment grew by 0.4% while the labor force expanded by 1.1%, leading to a 0.6 percentage point increase in the unemployment rate. By comparison, the Australian Capital Territory registered employment growth of 0.3% and labor force growth of 1.1%, resulting in a 0.7 percentage point increase. National employment projections from Jobs and Skills Australia released in May-25 offer additional perspective on prospective future demand within Banks. These forecasts, spanning five and ten-year horizons, have been applied to the local workforce structure to model potential growth trends. Although national employment is projected to grow by 6.6% over five years and 13.7% over ten years, growth rates vary greatly across different industries. Applying these sector-specific forecasts to the employment distribution of Banks indicates that local employment should rise by 6.1% over five years and 12.6% over ten years (note that this represents a basic weighted extrapolation for illustrative purposes and does not incorporate localized population forecasts).
Frequently Asked Questions - Employment
Median household income in Banks is $2,419 a week (about $126,000 a year), with median personal income at $1,168 a week. ATO records put median taxable income at $68,593 a year against an average of $75,485. Household income is from the 2021 Census; taxable income is from ATO Taxation Statistics for the latest financial year available, indexed forward using the ABS Wage Price Index.
Detail
The latest postcode-level ATO data from AreaSearch for the 2023 financial year indicates that incomes in the suburb of Banks are exceptionally high by national standards, with a median of $68,593 and an average of $75,485. This compares to the Australian Capital Territory's median income of $72,206 and average income of $85,981. Factoring in Wage Price Index growth of 10.44% since the 2023 financial year, current estimates would stand at approximately $75,754 for the median and $83,366 for the average as of March 2026. Data from the 2021 Census reveals that household, family, and personal incomes in Banks are all highly ranked, placing between the 88th and 89th percentiles nationwide.
Analysis of earnings shows that the $1,500 - 2,999 weekly income bracket contains 37.0% of the population (1,865 individuals), which aligns with the broader regional average of 34.3% in the same bracket. Economic capacity is highlighted by the 37.0% of households that earn high weekly incomes exceeding $3,000, supporting elevated consumer demand. Housing expenses consume 14.6% of income, while solid earnings place residents in the 88th percentile for disposable income, and the area's SEIFA income score falls into the 6th decile.
Frequently Asked Questions - Income
Banks had 1,772 occupied dwellings at the 2021 Census, 79% detached houses and 4% apartments. 60% are owned with a mortgage, 18% rented and 22% owned outright. At that Census the median rent was $424 a week and the median mortgage repayment $2,000 a month, a total housing cost higher than 83% of areas nationally. Rent absorbs 17.5% of household income here and mortgage repayments 19.1%. Dwelling stock, tenure and housing costs are 2021 Census measures — the only source that counts dwellings at this boundary size.
Detail
According to the latest Census, the mix of housing types in Banks consisted of 79.1% houses and 21.0% other dwellings (including semi-detached properties, apartments, and alternative dwellings), compared to the Australian Capital Territory average of 63.3% houses and 36.7% other dwellings. Meanwhile, the level of outright home ownership in Banks was lower than the Australian Capital Territory average at 21.9%, with the remaining properties being mortgaged (60.0%) or rented (18.1%). The median monthly mortgage payment in the area was lower than the Australian Capital Territory average at $2,000, while the median weekly rent stood at $424, compared to the territory figures of $2,080 and $450.
Nationally, mortgage payments in Banks are higher than the Australian average of $1,863, whereas rents are considerably higher than the national figure of $375.
Frequently Asked Questions - Housing
Banks counted 1,772 households at the 2021 Census, averaging 2.8 people each. 41% are couples with children, more than in 81% of areas nationally, against 23% couples without children. 20% of households are people living alone, and families average 1.6 children. Household and family composition is measured only by the Census, so these are 2021 figures.
Detail
Families make up the vast majority of households at 78.8%, consisting of 41.0% couples with children, 23.4% couples without children, and 14.1% single-parent households. Non-family households account for the remaining 21.2%, with lone person households representing 19.8% and group households making up 1.4% of the total. The median household size of 2.8 people is larger than the Australian Capital Territory average of 2.5.
Frequently Asked Questions - Households
22.9% of adults in Banks hold a university qualification, including 15.3% with a bachelor degree and 4.5% with postgraduate qualifications, higher than 99% of areas nationally. A further 26.5% hold a vocational qualification. Qualifications come from the 2021 Census.
Detail
The community faces educational hurdles, with university graduation rates at 22.9%, which is substantially lower than the SA4 regional average of 46.8%. This gap presents both a challenge and an opening for targeted educational programs. Bachelor degrees are the most common qualification at 15.3%, followed by postgraduate qualifications (4.5%) and graduate diplomas (3.1%). Vocational and technical expertise is highly prevalent, with 38.8% of residents aged 15 and over holding vocational credentials, split between advanced diplomas (12.3%) and certificates (26.5%). Student representation is notably strong, with 30.5% of residents currently enrolled in some form of study.
This cohort comprises 10.8% in primary schools, 8.8% in secondary education, and 3.6% in tertiary study.
Frequently Asked Questions - Education
Schools Detail
Public transport in Banks reaches 26 stops on 56 routes, timetabled for about 3,600 services a week. The typical home sits about 150 m from its nearest stop. Buses carry the largest share of public transport commuters. Households keep an average of 1.8 vehicles. Stop and service counts are built from operators' published GTFS timetables and refresh with each timetable release; vehicle ownership is from the 2021 Census.
Detail
Analysis of public transit reveals 26 active transit stops operating within Banks, consisting of a mix of bus services. These stops are serviced by 56 distinct routes, which combine to provide 3,635 weekly passenger journeys. Transit accessibility is classified as excellent, with residents generally located 152 meters from their nearest transit stop. Given the highly residential nature of the suburb, most working residents commute outward, with private vehicles remaining the dominant mode of travel at 93%. Average vehicle ownership stands at 1.8 per dwelling, exceeding the regional average. A relatively low proportion of 8.0% of residents work from home, based on the 2021 Census, which may reflect the impact of COVID-19 conditions.
Service frequency averages 519 trips per day across all routes, which corresponds to approximately 139 weekly trips for each individual stop.
Frequently Asked Questions - Transport
Transport Stops Detail
68.7% of residents in Banks report no long-term health condition. 4.5% need daily assistance with core activities, and 57.0% hold private health cover. The standardised death rate runs at 5.8 per 1,000 residents. Health conditions, assistance needs and insurance are 2021 Census measures; the death rate comes from current ABS releases.
Detail
Based on AreaSearch's evaluation of mortality rates and chronic condition prevalence, Banks faces notable health difficulties. Common health issues are somewhat prevalent among both younger and older demographics, and the rate of private health coverage is very high, encompassing approximately 57% of the total population (~2,875 people). This compares to 62.4% across the Australian Capital Territory. The most prevalent health issues in the area are mental health conditions and asthma, affecting 10.3 and 8.7% of residents, respectively. Meanwhile, 68.7% of the population reported no long-term medical conditions, compared to 70.2% across the Australian Capital Territory.
The working-age population faces notable health challenges, indicated by elevated rates of chronic illness. Residents aged 65 and older represent 11.4% of the local population (574 people), which is lower than the Australian Capital Territory average of 14.3%. Senior health outcomes present some difficulties, with national rankings generally corresponding with those of the broader community.
Frequently Asked Questions - Health
Banks is largely Australian-born, at 81.4% of residents, with 15.3% speaking a language other than English at home. The largest reported ancestries are Australian (28.0%) and English (26.1%). Ancestry, language and country of birth are counted only by the Census, so these are 2021 figures.
Detail
Banks exhibits above-average cultural diversity, with 18.6% of its population born overseas and 15.3% using a language other than English in the home. Christianity is the primary religion in Banks, representing 45.9% of residents. However, the most distinct religious overrepresentation is seen in Judaism, which accounts for 0.2% of the population, matching the 0.2% average across the Australian Capital Territory. Regarding ancestral background (based on parents' country of birth), the three most common heritages in Banks are Australian, representing 28.0% of the community, which is significantly higher than the regional average of 23.0%, English at 26.1%, and Other at 9.6%.
Additionally, there are notable deviations in the proportions of other ethnic backgrounds: Spanish heritage is notably overrepresented at 1.1% in Banks (compared to 0.5% regionally), Polish at 1.1% (compared to 0.8%), and Hungarian at 0.4% (compared to 0.3%).
Frequently Asked Questions - Diversity
The median resident of Banks is 35, younger than 76% of areas nationally. 26.6% of residents are aged 15 to 34. Age cohorts are not raw Census counts: the Census split is re-based to the latest ABS population estimates and state projections.
Detail
With a median age of 35, Banks matches the Australian Capital Territory median of 35 but is slightly younger than the Australian median of 38 years. Relative to the broader Australian Capital Territory, Banks contains a higher proportion of residents aged 45 - 54 (14.5%) but fewer people aged 25 - 34 (14.3%). Since the 2021 Census, the proportion of residents aged 65 to 74 grew from 5.3% to 6.8% of the population. Conversely, the 15 to 24 age bracket shrank from 13.7% to 12.3%, and the 5 to 14 cohort declined from 15.0% to 13.9%.
Population projections for 2041 indicate significant demographic shifts for Banks. The 75 to 84 cohort is projected to see the most substantial growth at 27%, adding 48 residents to reach 225. This ongoing demographic aging is highlighted by the fact that residents aged 65 and over account for 100% of the projected growth. In contrast, the cohorts aged 55 to 64 and 45 to 54 are expected to experience declines in population.
Frequently Asked Questions - Age
Data & MethodBoundaries, Sources & Method for Banks
9 of 14 data sections on this page were updated within the last 12 months — the newest current to Aug 2026.
Everything is aggregated to the Suburb (SAL) boundary shown above, on a 2021 Census baseline. Only 3 sections — housing, households and cultural diversity — still wait on the 2026 Census.
The ledger — source, cycle and currency by section
| Section | Source & update cycle | Currency |
|---|---|---|
| Updated within the last 12 months 9 sections | ||
| Population | ABS, GNAF, Geoscience Australia Annual (ABS ERP) | May 2026 3 months ago headline measures · 2021 Census baseline |
| Re-based to the ABS Estimated Resident Population (June 2025 release) and updated with new dwellings from GNAF address data. Current to May 2026, with the 2021 Census supplying the small-area baseline. | ||
| Age profile | ABS, Geoscience Australia, State governments Annual | May 2026 3 months ago headline measures · 2021 Census baseline |
| Age cohorts are re-based to the latest ABS population estimates and state projections, current to May 2026. Each cohort is held as a Census baseline and a current estimate. | ||
| Development & approvals | ABS, GNAF Monthly (ABS approvals) | Jun 2026 2 months ago headline measures · May 2026 baseline |
| Property sales & rents | Valuer General, Rental Board, ABS Weekly sales, quarterly rents | Aug 2026 this month all 21 measures |
| Sales from the state Valuer General register, refreshed weekly, and rents from quarterly rental bond lodgements. Both are read live each time this page loads, current to Aug 2026. | ||
| Infrastructure projects | Infrastructure Australia, Local governments Daily | May 2026 3 months ago all 2 projects tracked here |
| Project pipeline maintained continuously from Infrastructure Australia, state agencies, local government and public announcements. Records are added and revised daily; this area was last updated May 2026. | ||
| Employment | ABS, DEWR, JSA Quarterly (ABS SALM) | Mar 2026 5 months ago headline measures · 2021 Census baseline |
| Unemployment and labour force from ABS Small Area Labour Markets, current to Mar 2026. The growth outlook applies Department of Employment (now Jobs and Skills Australia) forecasts for all 19 industry divisions to the local industry mix, so it measures sector composition rather than local expansion and makes no allowance for population growth. Job demand comes from the same agency via its Internet Vacancy Index; industry and occupation structure from the 2021 Census. | ||
| Education | ABS, ACARA Annual (ACARA) | Aug 2026 this month headline measures · 2021 Census baseline |
| Transport | ABS, State Transport Departments Each timetable release | Jul 2026 last month headline measures · 2021 Census baseline |
| Services & amenities | Provider directories, ACECQA Continuous | Jul 2026 last month all 14 measures |
| Annual and financial-year sources 2 sections | ||
| Income | ABS, ATO Annual (ATO) | FY 2023 3 years ago headline measures · 2021 Census baseline |
| ATO taxable income statistics for FY 2023, indexed forward using the Wage Price Index. Census household income provides the distribution detail. | ||
| Health | ABS, ATO Annual | 2024 2 years ago headline measures · 2021 Census baseline |
| Census-measured — next update: 2026 Census 3 sections No more current small-area source exists for these, so they are labelled as Census-measured rather than implied to be current. | ||
| Housing | ABS 5-yearly (Census) | 2021 Census next update 2026 all 30 measures |
| Households | ABS 5-yearly (Census) | 2021 Census next update 2026 all 18 measures |
| Cultural diversity | ABS, Geoscience Australia 5-yearly (Census) | 2021 Census next update 2026 all 44 measures |
"Currency" is the most recent release feeding that section. Where the Census supplies the structural baseline underneath a current headline figure, the row says so.
How the numbers are built
Population
The Census provides the small-area baseline, aggregated from mesh blocks to this boundary. It is then re-based to the ABS Estimated Resident Population (June 2025 release), and new dwellings built since Census night are counted from address data — 3 validated new addresses here. The headline figure is therefore a current estimate for May 2026, not a 2021 count (5,100 at the 2021 Census → 5,043 now). Annual growth rates are compound (CAGR), not simple averages.
Age profile
Cohort shares are not raw Census counts. Every cohort is held as a pair — the Census baseline and a current estimate — and the split is re-based using ERP and state population projections, current to May 2026. Median age is the Census median plus modelled change since. Charts that show both are labelled "2021 Census vs Current Estimate".
Property sales
Sourced from the state valuation authority's sales register — current, not Census, and refreshed weekly. Medians are calculated from settled transactions in the period shown; periods with very low transaction counts are flagged or suppressed, because a handful of sales can move a median substantially.
Rents
Derived from state rental bond lodgement data, by dwelling type and bedroom count. Bonds are lodged at the start of a new tenancy, so this reflects new lettings, not the whole rented stock.
Development & infrastructure
Building approvals come from current ABS releases; development applications are collected from council and state planning portals; the infrastructure pipeline is compiled from Infrastructure Australia and local government sources. Applications are matched to this boundary by address or coordinates, so very recent lodgements may not yet appear.
Employment & income
Industry and occupation structure comes from the Census, but the headline labour-market indicators do not. Unemployment and labour force are derived from ABS Small Area Labour Markets (quarterly). The employment outlook applies Department of Employment forecasts for all 19 industry divisions to this area's own industry mix (the agency is now Jobs and Skills Australia), as does the Internet Vacancy Index used for job demand. Because it is weighted on industry composition alone, that outlook carries no allowance for local population growth — in fast-growing areas the real rise in local jobs will typically be higher. Income combines Census household income with ATO taxable-income statistics for FY 2023, indexed forward using the Wage Price Index.
Education, transport & amenities
School enrolments, ICSEA and performance come from ACARA's current release, not the Census. Public transport stops and service frequency are derived from GTFS timetable feeds published by state transport departments. Services and amenities are proximity and count scores built from provider directories, refreshed on their own cycle. The Census contributes only the travel-to-work and qualification measures.
Rankings and benchmarks. Where we rank this area, the comparison set is every area of the same boundary type — suburbs against suburbs, SA2s against SA2s. Benchmarks compare this area against its greater capital city region and the national figure for the same measure and period.
Limits worth knowing. Small areas carry larger error margins, and the ABS introduces small random adjustments to Census counts to protect confidentiality — so totals may not sum exactly. Estimates re-based from regional data describe the area's expected trajectory, not a direct count of it. Figures are indicative for research and are not financial, planning or valuation advice.
Cross-check us. The Census baseline for this boundary is at ABS 2021 Census QuickStats (SAL80021). QuickStats reports 2021 only — the figures on this page are more current wherever the ledger shows a later date.